Mexico City. Today Wednesday May 27, 2020 the dollar listed on $ 22.30 pesos, according to the investing.com platform. The peso closed lowering against the dollar for the first time since last week. According to Banco de México, the exchange rate in the spot interbank market ended today at $ 22.34 pesos per dollar. And the FIX ended at $ 22.36. Read Banxico Forecasts a drop of up to 8.8% of GDP
This negative result for the Mexican currency occurs due to two factors. Banxico released its estimate of the contraction of local GDP during 2020, between -4.6% and -8.8%. In the worst case scenario, indicates the central bank, the loss of 800,000 to 1.4 million formal jobs would occur and a current account deficit of between 0.3 and 1.5% of GDP.
The price of the dollar rises seven cents. Today the FIX exchange rate is 22.3633 pesos / dollar; yesterday was 22.2932 p / d. https://t.co/LaOklzuAeE
– Banco de México (@Banxico)
May 27, 2020
On the other hand, tensions in the trade war between the United States and China increased this day, which broke the positive streak for the peso and other emerging currencies. The government of President Trump affirmed that the territory of Hong Kong can no longer be considered as ‘autonomous’ within China, which is why the US would take away the privileged treatment it has in terms of fiscal policies. The antecedent for this new harshness is that the Chinese government is about to approve its Security Law, which, from the perspective of Washington, would destroy Hong Kong’s autonomy.
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Despite the above, the exchanges had a good session this Wednesday. According to Reform, the S & P / BMV IPC index of the Mexican Stock Exchange spun its fourth day of profit on Wednesday, closing with an increase of 1.89 percent, at a level of 36 thousand 206.86 units, with which it is heading towards recover the key level of the 37 thousand integers.
Investors continue to evaluate the economic reopening of various countries as well as progress in vaccines and the publication of economic estimates for the national economy and aid measures in the United States and Europe.
Exchange rate: Real-time dollar price:
Dollar in banking institutions today May 27, 2020
Regarding the exchange rate in the different banks of mexicoThe price of the dollar reaches its highest level for sale at $ 23.50 in Banbajío, while the lowest price for purchase is at $ 20.90 in Banregio.
Regarding euro, it is quoted at $ 24.53 pesos, for $ 27.33 pesos from the pound sterling overall average.
Oil prices in real time:
The escalation in tensions between the United States and China also affected international oil prices, which closed lower this day: the West Texas Intermediate stood at $ 32.81 per barrel (4.48% less) and Brent reached 34.74 dollars per barrel (3.95% less)
With information from Reforma